“PURE MISFORTUNE”

Sun (Auckland), Volume II, Issue 504, 6 November 1928, Page 1

“PURE MISFORTUNE”

PRAM AND 1/4 CASH FOR ASSETS BANKRUPT SALESMAN This morning, Mr. G. N. Morris, the official assignee, was prepared to regard the bankruptcy of Cyril Henry Lewis, a motor salesman, of Great South Road, as a case of pure misfortune. The only assets Lewis could name were Is 4d in cash and a perambulator, but he pointed out that £2 was still owing on the perambulator which had been taken on the hire-purchase system. Lewis owed £144 9s 7d to unsecured creditors. He gave £9B as the amount of his book debts, but, on the financial statement, what these were, estimated to produce was simply labelled “doubtful.” Lewis said he had lost everything in the slump of 1920-21. and since then severe illness had handicapped him. He had been under medical treatment almost continually and had to have an operation. He gave an assurance to his creditors that he would pay 20s in the pound as soon as he could. After an examination by Mr. Morris, at which no creditors were present, debtor said that with circumstances continuing as at present, he would pay 10s a week. One creditor arrived after the examination and he was told by the assignee that, under the circumstances, he would not expect Lewis to pay any more.